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Mat-Su Borough refinancing reduces state’s lease-purchase commitment on Goose Creek, Williams says
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Summary
The Matanuska-Susitna Borough recently refinanced lease-purchase bonds tied to the Goose Creek Correctional Facility; State Debt Manager Ryan Williams said the transaction reduced the state's subject-to-appropriation commitment and left roughly $100 million outstanding.
May 1, 2025 — The House Finance Committee heard that a recent refinancing by the Matanuska-Susitna Borough reduced the state’s projected payments tied to the lease-purchase of the Goose Creek Correctional Facility.
State Debt Manager Ryan Williams told the committee that the borough refinanced lease-purchase bonds and that the refinancing “decreased the subject to appropriation commitment by the state, to make payments to lease purchase the Goose Creek Correctional Facility.”
When asked how much remained on the obligation, Williams gave an approximate figure of $100 million remaining and said he could provide an exact amount if requested. Williams characterized the state’s legal position as a subject-to-appropriation commitment — not a traditional general-obligation bond payment — and told members it was important to continue making those appropriation payments when scheduled.
Ending
Committee members asked for clarifying detail on the remaining balance and the legal nature of the commitment; Williams said he would provide precise figures and follow-up materials. The committee did not take formal action on the item.
